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Revenue disclosure requirements: IFRS vs. Czech accounting principles
[Požadavky na zveřejnění v oblasti výnosů: IFRS vs. české účetní předpisy]

Author

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  • Petr Vácha

Abstract

The purpose of the article and related research is the comparison of the quality of revenue disclosures. For this purpose the current state of requirements for revenue disclosure in Czech accounting legislation and IFRS is outlined. In the next step the sample of financial statements was determined. The sample consisted of 10 largest Czech companies reporting under Czech accounting principles and 10 largest Czech companies reporting under IFRS, both of these based on revenue amount. The sample was reviewed from perspective of 11 evaluation criteria consisting of general revenue principles and disclosures about nature and content of revenues. The results of research preliminarily confirmed the hypothesis that the revenue disclosures in IFRS financial statements bring more information about recognition, measurement and nature of revenues than revenue disclosures in the financial statements based on Czech accounting principles. Due to the the lower size of sample the extension of sample is recommended for full confirmation of results. Nevertheless, the main issues in revenue disclosures in the financial statements of large companies indicate the areas of further focus for the Czech accounting legislation.

Suggested Citation

  • Petr Vácha, 2019. "Revenue disclosure requirements: IFRS vs. Czech accounting principles [Požadavky na zveřejnění v oblasti výnosů: IFRS vs. české účetní předpisy]," Český finanční a účetní časopis, Prague University of Economics and Business, vol. 2019(1), pages 35-49.
    • Handle: RePEc:prg:jnlcfu:v:2019:y:2019:i:1:id:527:p:35-49
    DOI: 10.18267/j.cfuc.527
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    References listed on IDEAS

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    1. Martin Červený, 2017. "Fulfillment of IFRS 2 Disclosure Requirements by Companies Listed on the Prague Stock Exchange," European Financial and Accounting Journal, Prague University of Economics and Business, vol. 2017(3), pages 53-64.
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    More about this item

    Keywords

    Disclosures; Revenue; IFRS; Czech accounting principles; Zveřejnění; Výnosy; České účetní předpisy;
    All these keywords.

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting

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